Compelling repercussions of the International global crisis on the Third World, specifically Pakistan, were shared by some of the well-known academics at the Institute of Business & Technology (BIZTEK) Seminar today.
Presided over by M. Mayjed Aziz, formar chairman KCCI & leading businessmen, the seminar was addressed by Mr. Rauf Nizamani, Najamul Hasan Ata, Dr. Zafar Iqbal Zahid, Syed Ali Baqar, Prof. Syed Mumtaz Saeed, Mr. Zafar Azeem, Dr. Shahid Hasan Siddiqui & Prof. Talat A Wizarat.
Mr. Nizamani thought that the ongoing economic crisis was the failure of the philosophy of neo-realism.
Najamul Hasan Ata termed it as the failure of risk management. He blamed the capitalist system for all the ills. Syed Ali Baqar thought that the recasting of the global economy was overdue.
Prof. Syed Mumtaz Saeed thought that the economic crisis signified the failure of market-dogmatism.
Mr. Zafar Azeem, member CBR, thought that pendulum of market dogmatism needed to be swing the socially responsible economy.
Dr. Shahid Hasan Siddiqui provided a bleak picture of the crisis and thought that the world has not remained the same as it was in 2004. The Global Crisis has shaken the very foundation of global economy and Pakistan shouldn’t go for IMF option.
Prof Dr. Talat A Wizarat, presenting a view of global politics in the wake of global economic crisis thought that public diplomacy would have to learn a few lessons from the crisis. She thought that the role of China was going to be cardinal in the near future.
Mr. Mayjed Aziz said that Pakistan couldn’t solve its problem because it has depended on imported solution. He said that unless Pakistan opted for homegrown solutions to its problems, we won’t get out of the crisis.